What can you do if your employer doesn’t offer a 401(k) match?

Some employers encourage employee participation in their retirement plans by offering to match a portion of the funds. For example, many companies will add 50 cents of every dollar up to 6% of an employee’s 401(k) contributions.

But what if your employer’s retirement plan offers a 401(k) without a match? Is there any way you can still beef up your retirement a little more? Here are some ideas:

Crank up the investments available

• Contribute more – Put a higher percentage of your income into your existing retirement plan. Since it lowers your taxable income, it may be cheaper than you think.
• Try other tax-deferred options – Consider opening an individual retirement account (IRA) if you’ve reached the maximum contribution level in your employer-sponsored plan.
• Consider getting taxed up front – Money placed in a Roth IRA is taxed now, but qualified Roth earnings are never taxed. This can save you more money in the long run.

Invest at home

• Purchase a home – Mortgage interest is usually tax deductible. Plus, any equity you build can be invested in your next house and eventually toward retirement, assuming the value of your home doesn't drop.
• Upgrade your home – If you already own a home, making certain updates can increase its resale value.

Press your employer

Determine the dollar amount of a potential employer match, then consider it part of your overall compensation:

• Request a raise – It may or may not work, but it never hurts to ask.
• Ask your employer to consider starting a matching program – Remind them it could help attract new talent and increase employee plan participation. HR might listen to good reasoning.
• Compare job offers – The next time you interview, ask about all the available benefits, including the employer match. If you’re not offered one, try negotiating a higher salary to make up for the "lost" investment revenue.